The following information is available for the month of October for ABC Corp. Beginning inventory $200,000 Net Sales $595,000 Net purchases 300,000 Percentage markup on cost 70% A fire destroyed all of ABC Corp.s inventory on October 31. Using the gross profit method, calculate an estimate of the ending inventory destroyed by the fire.

a). 500,000

b). 300,000

c). 150,000

d). 50,000